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Goldman Sachs: Marcus Deposits At $97 Billion As 2020 Ends

PYMNTS

Loans tied to its cards should reach at least $20 billion in 2024, as the bank noted in an update to its strategic plan. As had been noted in this space late last year, Goldman Sachs has reportedly been testing a wealth management app for the masses.

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Helping FI’s Develop Their ‘FinTech Sense’

PYMNTS

Everyone knows that digital and mobile services are key to success in the 2020s — not only in terms of more revenue, but also larger transformations. But that doesn’t mean all the players in payments and financial services have a solid or clear digital strategy. The benchmarks are being set by non-banks.”.

Fintech 169
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J.P. Morgan Looks Toward Payments Modernization

PYMNTS

Whether businesses were establishing their modernization roadmaps for the first time or simply accelerating the plans they already had in place, the COVID-19 crisis drove organizations to embrace technology at unprecedented levels in order to manage a remote workforce, supply chain disruptions and economic uncertainty.

Payments 198
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Digitization Could Halt Corporate Banks’ Shrinking Profits, Analysts Say

PYMNTS

According to the BCG’s “Corporate Banking Executive Survey,” “front-to-back digital transformations” are essential to halt this shrinkage. Now is the time to develop a more coherent digital strategy to decide where to play and how to invest.”. The financial stakes are very high,” he continued.

Boston 109
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Commoditization, Optimization or Transformation: What’s in Your Core Wallet?

Gonzobanker

My colleague Steve Williams observed in What’s Going On In Banking 2021: Rebounding from the Pandemic , “Many banks that were taking an incremental approach to digital were shocked into reality during 2020, and executives realized greater investment and faster transformation is needed to stay relevant.”.

Strategy 158
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The case for end-to-end digital lending

Independent Banker

“In order to stay competitive, we thought it was important to have various digital loan offerings available for our customers.”. Chris Jundt, First State Bank & Trust. Community bankers are increasingly recognizing that the future of digital lending is here. Banks also are realizing efficiencies from automation.

Lending 91
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How will IoT change the banking sector?

NCR

However, by 2020, this figure is expected to rise to almost 21 billion. So given that we’re set to be surrounded by these gadgets in our personal and business life whether we like it or not in the coming years, the obvious question for the banking sector will be ‘how can this technology benefit me?